The Reserve Bank of India (RBI) has directed banks to take immediate action to reduce the number of inoperative or frozen accounts and report their status quarterly. Highlighting concerns over the ...

After you leave your job, your PF account is considered active for the next 36 months. After this period ends, the account is marked as inoperative. However, the 'inoperative' account does not mean ...

The total amount in inoperative Employees’ Provident Fund (EPF) has jumped over five fold to ₹8,505.23 crore in financial year 2023-24 from ₹1,638.37 crore in fiscal year 2018-19, the Parliament was ...

The Reserve Bank of India has made the Know-Your-Customer (KYC) form mandatory for closing inoperative accounts. It is a cumbersome procedure, which is causing difficulty to account holders wishing to ...

State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by ...

The Reserve Bank of India has advised banks to take necessary steps to urgently bring down the number of inoperative or frozen accounts. In a press release issued on Monday, the central bank said it ...

Directing commercial banks to work towards bringing down the number of inoperative, frozen or dormant accounts urgently, the RBI also asked them to report such data on a quarterly basis. The RBI has ...

The Reserve Bank of India (RBI) asks Banks to take necessary steps urgently reduce the number of inoperative/ frozen accounts and make the process of activating such accounts smoother and hassle-free.

New Delhi: The total amount in inoperative employees' provident fund (EPF) has jumped over five fold to Rs 8,505.23 crore in financial year 2023-24 from Rs 1,638.37 crore in fiscal year 2018-19, ...

The EPFO administers three social security schemes namely — Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995 and Employees' Deposit Linked Insurance Scheme 1976 The total amount ...